Key Man Life Insurance definition

Key Man Life Insurance shall have the meaning set forth in Section 6.19.

Key Man Life Insurance the life insurance on the lives of Branxxx xxx Davix xxxuired pursuant to subsection 5.11.1.

Key Man Life Insurance means the current, valid, and fully paid key man life insurance policy insuring the life of Xxx Xxxxx in the amount of $4,000,000.00, procured by the Company and naming the Company as the beneficiary, and collaterally assigned to the Administrative Agent as security for the Obligations.

Examples of Key Man Life Insurance in a sentence

The Company may apply for and obtain and maintain a Key Man Life Insurance policy in the name of the Executive in such amount as the Company may determine, the beneficiary of which shall be the Company.
This excludes from allowable cost Key Man Life Insurance and benefits made available only to an exclusive number of employees, including the owner of the facility.
Premiums on any such Key Man Life Insurance policies shall be paid by the Company, and the Company shall be the beneficiary under such policies.
The Company may maintain, at its option and expense, Key Man Life Insurance (the "Policy") on the life of Executive for the benefit of the Company with a benefit of $2,000,000.
The Company may maintain, at its expense, Key Man Life Insurance (the "Policy") on the life of Employee for the benefit of the Company with a benefit of One Million Dollars ($1,000,000).

Key Man Life Insurance means a life insurance policy or policies obtained by the beneficiary or beneficiaries thereof on the life of Shelxxx X. Xxxxx xx a face amount of not less than $2,500,000 and assigned by such beneficiary or beneficiaries to the Agent for the benefit of the Lenders, such policy or policies to be issued by a reputable insurer rated "A" or better by A.M. Best & Co. and the form and terms of such policies and assignment to be acceptable to the Agent.

Key Man Life Insurance means life insurance on the life of the Chief Executive Partner, the benefits of which are payable to Partner(s) other than Greenberg.

Key Man Life Insurance means the key man life insurance policy to be obtained in the amount of $2,000,000 on Xxxx Xxxxx for which the Lenders will hold a first priority collateral assignment to the proceeds of.

Key Man Life Insurance means life insurance naming the Borrower as the beneficiary on the life of Knutxxx.

Key Man Life Insurance means (a) insurance policies maintained by the Company on the life of Holst fox xx long as he is an employee or consultant of Borrowers, payable to the Company in an amount equal to $5,000,000, and (b) any other policy of key man life insurance maintained by Borrowers with respect to any other employee or consultant of a Borrower; provided that, with respect to all of the foregoing insurance policies, Agent shall have a first priority assignment and security interest (for the ratable benefit of Agent and the Lenders) in any proceeds received by Borrowers.

Key Man Life Insurance life insurance policy number YH00079510 owned by IBP, LLC and issued by American General Life Insurance Company upon the life of Xxxxxxx X. Xxxxxxx and any supplementary or replacement contracts issued in connection therewith.